This article shall be know as the "Handicapped
Persons' Exemption from Real Property Tax."
The purpose of this article is to remove existing
real property tax disincentives to making the type of improvements
to real property which will permit persons with physical disabilities
to remain in their own homes.
The meanings of words and expressions as used
in this article shall be identical to their meanings as used in § 459,
as amended, of the Real Property Tax Law of the State of New York.
[Amended 5-27-1997 by L.L. No. 2-1997]
An improvement to any real property used solely
for residential purposes as a one- , two- or three-family residence
shall be exempt from taxation to the extent that any increase in value
attributable to such improvement is used for the purpose of facilitating
and accommodating the use and accessibility of such real property
by a resident owner of the real property who is physically disabled
or by a member of the resident owner's household who is physically
disabled, if such member resides in the real property and has filed
an exemption application.
This article shall apply to improvements made
on or after January 1, 1983.
This article shall take effect 20 days after
its final adoption and after filing in the office of the Secretary
of State.